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A company will need $70,000 in 5 years for a new addition. To meet this goal, the company deposits money in an account today that

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A company will need $70,000 in 5 years for a new addition. To meet this goal, the company deposits money in an account today that pays 11% annual interest compounded quarterly. Find the amount that should be invested to total $70,000 in 5 years. The company should invests (Do not round until the final answer. Then round to the nearest dollar as needed.)

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